HomeMy Public PortalAboutResolution 20-18 Reserving Forgone Amount FY 2021 City of McCall
RESOLUTION NO 20-18
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF McCALL,IDAHO,RESERVING
THE FORGONE AMOUNT FOR FISCAL YEAR 2021 FOR POTENTIAL USE IN
SUBSEQUENT YEARS AS DESCRIBED IN IDAHO CODE §63-802, et al.
WHEREAS, Idaho Code §50-235 empowers the city council of each city to levy taxes for
general revenue purposes; and,
WHEREAS, Idaho Code §50-1002 requires the city council of each city in the State of Idaho to
pass a budget, referred to as an annual appropriation ordinance; and,
WHEREAS, Idaho Code §63-802 sets limitations on all taxing district budget requests on the
amount of property tax revenues that can be used to fund programs and services; and,
WHEREAS, Idaho Code §63-802(l)(a) allows each taxing entity to increase property tax budget
amounts by a maximum of 3%, plus an amount calculated based on the value of both new
construction and annexation added during the previous calendar year, plus an amount for forgone
taxes; and,
WHEREAS, Idaho Code §63-802(1)(0 requires that the City adopt an annual resolution to reserve
additional forgone amount in order to utilize that amount in subsequent years; and,
WHEREAS, the City has met the notice and hearing requirements in Idaho Code §63-802(1)(f)to
reserve the current year's increase in the forgone amount; and,
WHEREAS,the City intends to reserve$189,631 of its current year's increase in allowable forgone
amount.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
McCALL, IDAHO, that $189,631 of the allowable increase for Fiscal Year 2021 in its forgone
amount is reserved and included in the City's total forgone balance for potential use in subsequent
years.
PASSED and approved by the McCALL CITY COUNCIL on the 13 day of August 2020.
'% Robert S. Giles,MAYOR
ATTEST: U EAR x
�►�q O
BessieJo Wa er, C
�nu u►�